The Red Rox have won 3 World Series titles in the last 11 years. At this rate, how long will it take them to win 20 World Series
1 answer:
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Answer:
The right response is Option c ($185,870,742).
Step-by-step explanation:
Given:
n = 30
r = 5.4%
or,
= 0.054
Periodic payment will be:
($)
Now,
The present value will be:
=
By substituting the values, we get
=
=
= ($)